Chris Hansen organizes a rally in Seattle to support construction of a new arena – NBA News
Hedge Fund manager Chris Hansen organized a rally in downtown Seattle on Thursday afternoon to show support for a push towards a new arena that could bring the NBA back to Seattle.
The Seattle Supersonics were one of the best teams in the NBA in the 90’s, producing some great games and rivalries. After a dismal few years, the Sonics were eventually moved to Oklahoma City in 2008 as the Oklahoma City Thunder.
Now in 2012, only 4 years later, the Thunder are the best in the West and battling the Miami Heat for an NBA championship. That has made the Seattle fans even more charged up about the NBA returning to the city and came in support
of Hansen as he tries to get a new arena deal through with the city councils.
Hansen received much ovation as he took the stage to address the crowd in Occidental Park, just a few blocks away from Seattle’s Century Link and Safeco Fields stadiums. He has put forward a proposal in front of the King county
and Seattle City Councils for the construction of a new arena next to the Safeco Fields stadium. The arena will cost $490 million, with $300 million coming from private investment.
The crowd came in numbers, almost 4000, as they showed their support for the proposal forwarded by Hansen by wearing Sonics jerseys from past era. Former Seattle players Gary Payton and Shawn Kemp were also on hand to show their
support for the city and the team.
The envisioned project will entail a $290 million investment from Hansen’s group, with the rest of the $200 million coming from the city councils through 30 year bonds. Any franchise that is willing to come to Seattle and move
to the arena will be asked to sign a non-relocation contract for the life of those bonds.
Microsoft CEO Steve Ballmer and Peter and Erik Nordstrom are said to be partners of Hansen in this investment, which will entail the arena as well as the basketball franchise.
"You deserve everything that is going on right now and more. I'm going to be with you all every step of the way,” said former Sonics player Gary Payton to the assembled crowd.
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